fha 203k renovation loan: WHAT IS A FHA 203K RENOVATION LOAN? - 11/03/16 04:07 AM

A few years ago, Steve Dobbs wrote about his experience obtaining a 203k rehab loan. Steve purchased a rehab property and obtained a 203k loan for the repairs. We are going to touch on the topic more in our latest blog.
The Federal Housing Administration (FHA) provides both limited 203k rehab mortgage and 203k rehab mortgage insurance. Both loans are available to homeowners to provide financing on the purchase of a home as well as financing on renovations on homes.
To obtain 203k rehab mortgage, the home must be at least one-year-old. The renovation can be as little as $5,000 worth of work and all … (1 comments)

fha 203k renovation loan: FHA 203K Renovation Loan Success story in Louisville KY - 07/04/11 07:40 AM
We see lots of bank owned homes that need more than a little TLC to get them back in shape. These would include Fannie Mae, Freddie Mac, local banks as well as the big boys, and HUD homes. Renovation loans can be a challenge in the Louisville KY market as well as many others.
We recently bought a Fannie Mae Foreclosure that needed a lot of “Tender Loving Care”. Our issues were termite damage, dilapidated carpet, single pane windows, shingles at the end of their life, gutters, siding with holes, outdated kitchen, etc. Did I mention that it needed paint? We knew … (0 comments)